Sogester on the march

Toyota Tsusho of Japan plans to invest US$600M in developing the port of Namibe in Angola

With South Africa now officially in recession and exports falling, the country’s trade volumes look set to fall this year. This seems like bad timing for South African transport utility Transnet, which is investing heavily in new cargo handling capacity, but the company is confident that the new port of Ngqura and increased capacity at Durban will pay dividends in the long run.

The government of Angola has awarded a concession to manage Luanda Container Terminal to a joint venture led by APM Terminals (APMT). The 20 year contract to modernise, expand and operate the country’s most important container facility was awarded to a locally registered company, Sogester, which is 51% owned by APMT, with the remaining 49% equity held by Gestão de Fundos, an Angolan pension fund.